SAN FRANCISCO, Oct. 1, 2020 /PRNewswire/ — Braintrust, a global network of highly-skilled technical and design talent, today announced a $18 million Strategic Growth Round, just three months after emerging from stealth in June. The company, which attained profitability on its Seed Round, has doubled its financial projections from early in the year, and seen 45-70% month-over-month growth since its public launch. Led by VC firms ACME and Blockchange Ventures and joined by new investors Omidyar Technology Ventures, Pantera, Multicoin, Hashkey and Variant, the round is intended to further accelerate the marketplace’s rapid growth.
Braintrust also announced the addition of new Fortune 1000 clients including Coursera, Stanley Black and Decker, Align Technology (Invisalign), World Wide Technology (WWT), AthenaHealth, and Mural to its roster, which already includes industry leaders such as Nestle, Pacific Life, Deloitte, Porsche, Blue Cross Blue Shield, TaskRabbit and NASA.
The Strategic Growth Round and addition of new clients reflect the dramatic growth (2x the pre-Covid financial plan) of Braintrust’s remote work business model amid the economic slowdown caused by the COVID-19 pandemic. The Braintrust platform has thousands of active workers completing projects for clients, and many thousands more in its talent vetting pipeline.
“There has never been a more critical time for a platform like Braintrust,” said Adam Jackson, Co-Founder and CEO of Braintrust. “With massive upheaval in our economy, many innovation projects came to a screeching halt, and many people lost their jobs. Braintrust is part of the solution to getting both sides back on track, and helping companies remain competitive amid extremely challenging circumstances. This Strategic Growth Round helps us accelerate that process.”
Braintrust’s model connects technical talent with organizations needing projects completed, which are traditionally done in-house at a high cost, with fees eliminated for workers and minimized for clients.
Braintrust’s mission is to disrupt traditional hiring methods, reclaiming the value lost and realigning incentives for both talent and organizations, and allowing that value to return to the creators. Braintrust is expected to be the first user-controlled talent network that provides enterprises with highly skilled technical and design talent that they need. Braintrust’s unique network model allows talent to retain 100% of their market rate, and enables organizations to spin up flexible teams and make their budgets go 2-3x further by cutting out the middlemen. This new network model of minimizing fees and giving value to the users instead of maximizing fees and concentrating value at the top is uniquely enabled by a blockchain token.
Braintrust is founded by serial entrepreneurs; Adam Jackson and Gabriel Luna-Ostaseski and backed by leading Silicon Valley Investors including True Ventures, IDEO CoLab Ventures, Galaxy Digital, Fin VC and prominent angel investors. Braintrust is a fully distributed network with a presence in 15 countries around the world. For more information, please visit usebraintrust.com.